Daily use of bitcoin? - page 44. | Bitcointalksearch.org

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I'd rather say using Bitcoin will be very clumsy for such ends

But you should first ask yourself why you would want to pay with Bitcoin for a cup of coffee (or tea). There is already fiat (cash) for that, and it will serve this purpose better. Since Bitcoin is rightfully considered better money than fiat while bad money always drives good money out of circulations, you will be just wasting good money on trivial things. Nevertheless, if you still want to spend your precious bitcoins this way, order a Bitcoin payment card and get done with that

CyberKuro

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

As I know, there is a third-party (iPayYou) to buy a coffee from Starbucks that accepted bitcoin through their official application.
Moreover, if supermarket or restaurants want to accept bitcoin, we need some intermediaries such as iPayYou or BitPay.
If time issue about bitcoin transaction confirmation could be surmounted than we will see rapidly growing of bitcoin as an alternative payment and may become a major one.

Anarchist

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For a daily use, it's kind hard to use without any 3rd party.I don't see me asking for a BTC wallet to the cashier at the supermarket to pay the food

virasog

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Quote from: bitbunnny on January 16, 2017, 10:31:28 AM

Transaction time and confirmations are one of the reasons why some merchants are still reluctant to accept Bitcoins, even if it takes only one confirmation.
But you can use Bitcoin debit card, you avoid transactions confirmation and have the full benefit of spending Bitcoins.

Yes, I agree but then, bitcoin totally one of the safest money paying method even in time vary for some delay yet, the security of users remain unlike those atms. Blockchain provide quite a good security unless someone tries to double spend.

waltonvani

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Quote from: n0ne on January 16, 2017, 06:18:45 AM

I don't think there is a need to wait for the confirmation, if a fee recommended or little above is paid you'll get faster confirmations. Other than this once after sending the receiver end gets the transacted amount under the unconfirmed transaction list. This itself helps the receiver a hope of receiving the payment.

That is correct. Why do we wait for unconfirmed transaction? with higher transaction fee it's confirmed in some minutes and then we are served by that service.

jeraldskie11

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

We can see that the bitcoin from now is using for payment like what you said starbucks. The bitcoin is new to all and that is the reason why it could happen. But when the bitcoin is became a known, maybe in the future, you can easy pay it by only bitcoin so that in the future of bitcoin use in our daily life.

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I think that merchants, especially in small stores where no expensive goods, should accept zero confirmation transactions. This would make life much easier for them and for buyers: for them because they'd have more customers and for buyers because they don't have to wait for a confirmation.

lol3c

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Now I can proudly say that I can finally use my bitcoin directly for buying coffee Grin

There are two cafe shops nears my house that offer freaking delicious drinks and cool stuff and they accept bitcoin. And surprisingly, it doesn't take long for transactions to be confirmed, so I don't have to wait for hours like some people said. But that's all I can do with my bitcoin in reality, I hope there would be more stores that have bitcoin payment Grin

BossMacko

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If almost all the stores are using Bitcoin they should implement Instant Deposit, So that buyer should not wait one blockchain confirmation before they get the goods they are buying.

Loganota

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Unfortunately, Bitcoin nowadays is not suitable for microtransactions. This is one of the problems I see in order to be adopted on a large scale. The good thing about cryptocurrencies is that one can always improve.

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Confirmations are not getting generated like it used it be. Now it's taking more time than previous years, We need more miners and the fluctuating rate of Bitcoin is not making it easy for new miners. We have to find a way to stop those double spend technique scammers.

soul-impact

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Quote from: 20kevin20 on January 16, 2017, 08:27:01 AM

If you have a business, it would be a pain for your customers to wait until the payment has been confirmed. If the blocks will stay behind, who would wait at a restaurant or minimarket for a few hours to confirm their transaction? In this case, they need to accept the payment even if it is not confirmed yet, like Microsoft and Steam does.

I never use Steam before but it does surprise me that Steam does not wait for one confirmation. At least the system must wait for one confirmation, right ? Because there are many scammer who know how to generate a double-spend technique and it can easily destroy Steam once and for all.

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Transaction time and confirmations are one of the reasons why some merchants are still reluctant to accept Bitcoins, even if it takes only one confirmation.
But you can use Bitcoin debit card, you avoid transactions confirmation and have the full benefit of spending Bitcoins.

jtipt

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

Actually the confirmation isnt really necessary, it depends on the seller some seller keep it at 3 confirmations while others at only 1, i have also seen some sells requiring no confirmations if the fees send is little over recommend amount.

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

Some store or website only needs to take 1 confirmation before it will totaly confirmed by the website or to received the full payment. If you already wait for too long its the blockchain problem nor the transacton it self.

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I think its not need already for you to wait as long you already sent the amount and the store owner able to see the unconfirmed transaction in his wallet then he might approve it already since we all know that bitcoin transactions is not reversible and people will surely be confident that they would able to recieve the payment.

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Quote from: 20kevin20 on January 16, 2017, 08:27:01 AM

If you have a business, it would be a pain for your customers to wait until the payment has been confirmed. If the blocks will stay behind, who would wait at a restaurant or minimarket for a few hours to confirm their transaction? In this case, they need to accept the payment even if it is not confirmed yet, like Microsoft and Steam does.

It makes people avoid bitcoin if they need to wait in stores for confirmation after making the payment. For this reason what above mate suggested is truly an good idea which has been already followed by Microsoft and steam.

(altair)

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I think it would only take 1 confirmation for your transaction to reflect in their wallet so you would not have to wait for an hour just to get your order,And also I hope that other store's would also accept bitcoin as a payment method

perla

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

i think in some site that accept bitcoin, no need to wait even it is only 1 confirmation, after their wallet detect some transaction, it means we already paid because bitcoin is ireversible. maybe it will be good if some site use that way.

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

Just don't make things complicated dude, just your fiat rather than bitcoin. There are certain transactions where bitcoin is more favorable and you should only use bitcoin on such transaction, one good example is gambling, it's the industry where bitcoin is very popular.

Topic: Daily use of bitcoin? - page 44. (Read 42432 times)